China backs away from new e-commerce rules; China clarifies tax position for foreign bond holders; AML probe deepens on Japanese bank; RBA takes aim at bank profits; MAS grants first private securities platform licence
A platoon of personal shoppers are offering a new option for corporates looking to build their presence in China. But selling via so-called daigou raises several treasury challenges.
From today Chinese financial institutions no longer have to set aside 20 per cent of the value of dollar purchases. For treasurers, that means lower costs and an opportunity to hedge.